Thursday the Raiders signed their franchise quarterback Derek Carr to a long term extension. They made that deal official Friday morning. It makes Carr the highest paid player in NFL history at just over $25 million per season.
That 5-year extension doesn’t begin until 2018, but he will get $40 million in guarantees right away. The only question was how much of that amount was to count against the salary cap right now.
We now know what those figures are.
Carr will count $15.73 million against the cap this season as spotrac.com first reported.
It breaks down to a $5 million base salary, $3.06 million in prorated signing bonus, a $7.65 million roster bonus, and a $25k workout bonus according to figures compiled by overthecap.com.
Carr’s cap figure jumps to $25 million in 2018 and then drops to $22.6 million — just in time for the first big cap hit from re-signing Khalil Mack — 2019-21, and dropping again down to $18.2 in 2022.
The fourth-year QB now represents the largest 2017 cap hit on the team — as it should be — surpassing Kelechi Osemele’s $13.5 million cap number.
The new money paid out drops the Raiders to $18,070,482 in available money under the salary cap. That’s enough money to sign Gabe Jackson, the rest of the rookies (the top three picks remain unsigned), and have plenty of carry-over into next year.